Additionally, this forex broker released its own branded account management tool called FxPro Direct App. Depending on the preferred forex trading platform, FxPro clients can get access to a different range of markets, different spreads, different order execution models, and different trading tools. Below, our team of experts will assess what is the best forex trading platform to suit your trading needs.
About the Editorial Team
FxPro recommends a minimum deposit of $1,000 for optimal trading, although clients can deposit as little as $100. This flexibility allows both low-capital traders and professionals to start trading. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during scammed by xcritical that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry.
The spread bet markets available with the Edge account include Forex currency pairs, shares, spot indices, spot metals and spot energies. The spread bets offer much tighter spreads than the traditional financial assets. The tax-exempt status coupled with the low initial deposit makes spread betting very attractive. FxPro has the bonus of being able to offer a trading platform designed for spread betting. Our team of industry experts also assessed the mobile trading Apps offered by FxPro. FxPro brings all the trading tools and features of the desktop version directly to your mobile device.
- In the table below, FxPro’s spreads are lower than the average standard, save for the USD/SGD pair.
- FxPro operates under the norms and standards imposed by the world’s most trusted forex regulatory bodies.
- While the negative balance protection policy is more common to be enforced in Europe due to the ESMA rules, FxPro treats all of its clients the same regardless of their jurisdiction.
- FxPro customers can only trade 5 CFD markets, which excludes support for shares trading.
- Our broker reviews are reader supported and we may receive payment when you click on a partner site.
FxPro: Trading & Investing
The following table summarizes the different investment products available to FxPro clients. We don’t recommend the broker for intermediate or expert traders as FxPro has some of the highest trading fees. Their standard account has high spreads while their Raw account has competitive spreads but high commission rates. They also don’t offer commission rates in any currency but the USD which isn’t ideal for trades in regions such as Europe, Australia of the UK which have a different base currency. Choosing the right trading account depends on your trading style and other important considerations (spreads, leverage, technical tools, trading platforms, execution speed, etc.). The below table compares the spreads of FXPro with the average from different brokers that offer a standard account.
Raw Account Spreads
It’s a $15 one-off admin fee, then $5 per month after 6 months of inactivity. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Each platform comes with unique features suited to different trading needs and styles. FxPro has one of the highest numbers of retail clients with over 1,866,000 million trading accounts. With such a large number of retail clients opting for a FxPro trading account, it’s important to examine if FxPro is a trusted broker. Both FxPro deposits and withdrawals are conducted via an innovative money management tool called FxPro Wallet. This multi-functional account management tool lets FxPro clients transfer funds between their trading accounts in a secure medium. At its core, the FxPro Wallet is synonymous with a bank safe deposit box where you can keep your funds safe and secure.
Mobile Trading Apps
FxPro offers a raw spread account on the MT4 platform, providing FX and metals trading. On the cTrader platform, FxPro provides even tighter spreads for FX and metals. In the table below, FxPro’s spreads are lower than the average standard, save for the USD/SGD pair. I’m greatly appreciative of the trading platform’s dependability and rapid customer service. The real-time market information is crucial for my short-term trading approaches. The clear transparency and promptness foster trust for sustained success.
Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community. FxPro Wallet comes with no additional fees, but in some extreme circumstances, FxPro clients can be charged a withdrawal fee depending on the withdrawal method.
FxPro offers its customer service in different xcritical scammers languages catering to a global customer base. Our team of experts was able to validate 21 different languages at fxpro.com. This can be useful given you are trading with High Leverage Forex Brokers. Professional traders will, however, lose access to the Financial Services Compensation Scheme.